Xiaomi Expands in Europe, Interparfums Records Growth in Q1 and Sephora China Reports Revenue Drop

Xiaomi Expands Automotive R&D Operations in Europe with Munich Center

Xiaomi has established an automotive R&D center in Munich, Germany, focusing on elite management and business experts with a team of fewer than 50 people. The center currently has no large-scale hiring plans and will support the development of the SU7 Ultra Nürburgring Limited Edition and performance tuning for future models. The move marks both an expansion of Xiaomi’s R&D capabilities and a strategic step toward brand differentiation in Europe.

Interparfums Records 10.7 Percent Revenue Growth in Q1 2025

Interparfums reported Q1 2025 revenue of 235.5 million euros, up 10.7 percent year-over-year and 8.8 percent at constant exchange rates. Growth was driven by strong performances from Jimmy Choo and Lacoste fragrances, with revenues rising 40 percent and 34 percent, respectively. The company plans a 6 percent-7 percent retail price increase in response to US tariffs and maintains a full-year revenue target of 930–935 million euros.

Chagee Opens First North American Store in Los Angeles

Chagee opened its first North American store at Westfield Century City mall in Los Angeles, near Beverly Hills and West LA. Located next to brands like Haidilao and Pop Mart, the store attracted long lines during its soft opening. The official opening is set for May 9 with a prize draw event. An initial limited menu will expand to 14 tea-based products over time.

2025 May Day Travel Trends Highlight Rising Popularity of Small Cities in China

Qingdao Shangmei And Life Group released its 2025 May Day Small City Travel Insights Report, noting the impact of an extended holiday period from the “4 days leave for 11 days off” strategy. Cities like Xuchang and Lianyungang topped the popularity rankings, while booking volumes in smaller destinations such as Shantou and Ili saw significant growth. Gen Z travelers are favoring immersive experiences in less mainstream locations. Budget hotels under 200 yuan remained the preferred accommodation choice for over 50 percent of travelers.

Sephora China Reports 19 Percent Revenue Drop

Shanghai Jahwa disclosed in its 2024 annual report that Sephora China’s revenue fell 19 percent to RMB 7.14 billion, with a net loss expanding to RMB 646 million. The downturn was attributed to intensified online competition and challenges facing offline retail. Sephora China had previously achieved over RMB 10 billion in revenue in 2021 but has since seen a decline in both revenue and profitability.

Unilever Reports Q1 2025 Sales Growth

Unilever reported 14.8 billion euros in revenue for Q1 2025, down 0.9 percent year-over-year due to asset disposals. Underlying sales growth (USG) reached 3.0 percent, driven by a 1.3 percent volume increase and 1.7 percent price growth, beating forecasts. Power Brands rose 3.0 percent, with Dove up over 8 percent and strong performances from Vaseline, Liquid I.V., and Magnum. In China, sales remained weak, with underlying sales posting a high single-digit decline. The company reaffirmed its full-year outlook of 3–5 percent USG and modest margin improvement.

Youngor Reports 2024 Earnings and Strategic Refocus on Fashion

Youngor released its 2024 annual report. Revenue rose 3.19 percent year-over-year to RMB 14.19 billion. The fashion segment posted revenue of RMB 6.80 billion and net profit of RMB 431 million, down 6.94 percent and 43.90 percent, respectively, due to weak consumer recovery and increased investment. Core brand Youngor remained the pillar, contributing over 90 percent of segment revenue. Emerging brands like Undefeated, Mayor, and Corthay grew strongly.

China Grants Tariff Exemptions on Some U.S. Goods Amid Trade Tensions

China exempted certain U.S. pharmaceuticals from new tariffs, while a list of additional potential exemptions circulated among businesses. However, China denied U.S. President Donald Trump’s claim that trade negotiations were underway. Trump signaled interest in striking new deals with Japan and South Korea, amid broader global trade discussions. Markets showed cautious optimism despite ongoing tariff measures.